{"id":4054,"date":"2022-05-11T09:04:11","date_gmt":"2022-05-11T09:04:11","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=4054"},"modified":"2022-05-11T09:04:12","modified_gmt":"2022-05-11T09:04:12","slug":"uk-outlines-plans-to-support-crypto-adoption-create-more-powers-to-seize-and-recover-digital-assets","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4054","title":{"rendered":"UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>Delivering the Queen\u2019s Speech, Prince Charles outlines the British government\u2019s plans to support the safe adoption of cryptocurrencies and create \u201cpowers to more quickly and easily seize and recover crypto assets.\u201d<\/strong><\/p>\n<h2>UK Government Plans to Support Crypto Adoption<\/h2>\n<p>The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen\u2019s Speech delivered Tuesday by Prince Charles, the monarch\u2019s son and first in line to the throne. The Queen\u2019s Speech is written by the government and read out by the monarch as part of the official state opening of parliament.<\/p>\n<p>Speaking to both the House of Lords and the House of Commons, Prince Charles detailed numerous commitments that Her Majesty\u2019s government will carry out. He mentioned that 22 bills will be introduced, telling parliament that the government\u2019s \u201cpriority is to grow and strengthen the economy and help ease the cost of living for families.\u201d<\/p>\n<p>One of the bills is the \u201cFinancial Services and Markets Bill,\u201d according to the background and briefing notes of the Queen\u2019s Speech posted on the government\u2019s website. The purpose of this bill is to \u201cmaintain and enhance the U.K.\u2019s position as a global leader in financial services\u201d and \u201cseize the benefits of Brexit,\u201d the document details.<\/p>\n<p>Among the benefits of this bill is:<\/p>\n<p>Harnessing the opportunities of innovative technologies in financial services, including supporting the safe adoption of cryptocurrencies and resilient outsourcing to technology providers.<\/p>\n<h2>Bill to Create More Powers to Seize, Recover Crypto Assets<\/h2>\n<p>Another bill Prince Charles highlighted that mentioned cryptocurrency is the \u201cEconomic Crime and Corporate Transparency Bill.\u201d This bill aims to \u201ccrack down on the kleptocrats, criminals, and terrorists who abuse our open economy, ensuring we drive out dirty money from the U.K.\u201d<\/p>\n<p>Among the elements of the bill is:<\/p>\n<p>Creating powers to more quickly and easily seize and recover crypto assets, which are the principal medium used for ransomware.<\/p>\n<p>\u201cThe creation of a civil forfeiture power will mitigate the risk posed by those who cannot be criminally prosecuted but use their funds to further criminality,\u201d the Queen\u2019s Speech briefing note describes.<\/p>\n<p>Tags in this story<\/p>\n<p>adoption of cryptocurrency, Bitcoin, british government, british queen, Crypto, Cryptocurrency, house of commons, house of lords, parliament, prince charles, queen, queen\u2019s speech<\/p>\n<p><em><strong>What do you think about the British government\u2019s plans to support crypto adoption? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/uk-outlines-plans-to-support-crypto-adoption-create-more-powers-to-seize-and-recover-digital-assets\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Delivering the Queen\u2019s Speech, Prince Charles outlines the British government\u2019s plans to support the safe adoption of cryptocurrencies and create \u201cpowers to more quickly and easily seize and recover crypto assets.\u201d UK Government Plans to Support Crypto Adoption The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen\u2019s Speech delivered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-4054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4054"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4054\/revisions"}],"predecessor-version":[{"id":4056,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4054\/revisions\/4056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4055"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}